Sluggish 6.3-6.8 pc growth for FY26: Economic Survey

New Delhi: India’s economy is likely to expand by 6.3-6.8 per cent in the coming fiscal, much lower than what is needed to become a developed country, and requires deregulation and reforms in areas like land and labour to stimulate growth, according to the government’s pre-Budget Economic Survey.

 The state of the economy document, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday, indicated that India’s world-beating growth is moderating and more needs to be done to achieve the near 8 per cent annual rate needed to achieve the Viksit Bharat target by 2047.

 The 6.3 per cent to 6.8 per cent growth rate in 2025-26 (April 2025 to March 2026 fiscal year) compares to an estimated 6.4 per cent growth in the current year ending March 31 – the weakest since the pandemic – and 8.2 per cent in the past 2023-24 financial year.